(Additional expenses, up to, but not exceeding the amount listed, can be used to increase the amount of the cost of attendance on a case-by-case basis after meeting with the Financial Aid Office. No federal or institutional funds can be used to meet these expenses; they must be funded through private educational loans.)Summer Savings: You are strongly encouraged to save a portion of your summer savings to help defray your fall semester expenses.
Budgeting Information
Your educational costs may be different from the budget we use for financial aid purposes. Please remember that you cannot use education loans (even private education loans) to cover costs above our published budget. You may have to plan carefully to ensure that you can meet all your expenses during the year.
Credit Counts
To be approved for private educational loans, you must demonstrate a good credit history. Please be sure to stay current on all accounts and maintain a good credit history. Order a Free Annual Credit Report.
- Credit card debt
- Security deposits
- Cell phones/internet service
- Sport and Fitness Club fees
- Car payments
- Travel expenses
- Personal gifts
- Furniture
- Summer living expenses
- Moving expenses (above the travel allowance)
- Expenses related to your job search
- Fall, Winter and Spring break travel or trips
- Develop a personal budget. Use helpful software such as Quicken or MS Money
- Cancel or close all credit card accounts except one. Use that card only in emergencies.
- Don't carry a balance on your credit card. Pay your balance in full each month.
- If you currently have a balance on your credit card, ask your credit card company to reduce your interest rate.
- Don't cancel a credit card that has a balance - it's likely the company will increase your interest rate and you'll have no leverage to negotiate a lower interest rate on that card.
- Don't take on any new consumer debt.
- Get a copy of your credit report or credit score annually. Start by ordering a Free Annual Credit Report.
- Don't hesitate to accept gifts from family.
- Save as much of your summer earnings as possible.
- Get a roommate to reduce housing costs.
- Increase the deductible on your auto insurance.
- Consider public transportation or car pool with other students.
- Have a landline or a cell phone, not both.
- Reduce your entertainment/recreation expenses.
- Plan your meals, use coupons, and bring your lunch.
- Make your own coffee.
Live like a student while you are a student and you'll be able to live like an MBA once you graduate.
|
